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02/02/2024
Fall in government borrowing
Data published by the Office for National Statistics (ONS) has revealed that government borrowing fell to £7.8 billion in December 2023, increasing the possibility of tax cuts in the upcoming Spring Budget.
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Third of UK adults confident with SA
Just 35% of UK adults are confident they could complete the self assessment tax return form correctly, according to research Standard Life.
25/01/2024
Raise VAT threshold to £100,000
The government should raise the turnover threshold for VAT from £85,000 to £100,000, according to the Federation of Small Businesses (FSB).
Chancellor suggests taxes may be cut
Chancellor Jeremy Hunt has hinted that he may cut taxes in the upcoming Spring Budget.
Almost 45,000 set up HMRC payment plans
Nearly 45,000 people have sorted self assessment tax bills totalling almost £148 million by setting up a payment plan, according to HMRC.
19/01/2024
Value of tax penalties surged by 25%
A Freedom of Information request has revealed that the value of tax penalties rose by 25% between 2022 and 2023.
Increase to cost of student loan
Research carried out by the Institute for Fiscal Studies (IFS) has revealed that the cost associated with financing the UK’s student loan system has increased by more than £10 billion per year.
AI will affect jobs and worsen inequality
The International Monetary Fund (IMF) has warned that artificial intelligence (AI) will affect 40% of all jobs around the world and ‘deepen inequality’.
10/01/2024
HMRC targets side hustles
A ‘side hustle tax’ came into force on 1 January aimed at those who sell second-hand goods online or let out their spare rooms.
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